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Financial Services and Markets Act 2000
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265Representations and references to the Tribunal
This section has no associated Explanatory Notes
(1)This section applies if any representations are made to the Authority, before the period for making representations has ended, by a person to whom a notice was given by the Authority under section 264(2).
(2)The Authority must, within a reasonable period, decide in the light of those representations whether or not to withdraw its notice.
(3)If the Authority withdraws its notice the scheme is a recognised scheme from the date on which the notice is withdrawn.
(4)If the Authority decides not to withdraw its notice, it must give a decision notice to each person to whom the notice under section 264(2) was given.
(5)The operator of the scheme to whom the decision notice is given may refer the matter to the Tribunal.
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